Monitoring Desk
ISLAMABAD: The chief of the International Energy Agency (IEA) Fatih Birol said on Sunday that in January, price caps on Russian oil cut around $8 billion or 30 percent of Moscow’s export revenues from oil and gas exports, from a year ago period.
Demand for oil to center around Chinese demand for jet fuel
Birol added that in 2023 the worldwide increase in demand for oil would come from China and with regard to that OPEC+ countries may need to review their (output) policies.
Birol explained while referring to the Chinese exploding demand for jet fuel, that as in the current year China’s economy is rebounding it would exert upward pressure on its demand for oil.
Regarding Fatih Birol’s statement, a Twitter user posted this:
